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of other Colonies is being sought to a reciprocal arrangement
on the point.
7.
It is difficult to estimate the cost of these
amendments of the pension minute but from calculations which
have been made it would appear that the position will be as
follows: As regards the first amendment referred to in
Paragraph 4 the amount will be negligible for the first few
years, but may rise to as much as $50,000 a year by the year
1965. As regards the second amendment referred to in
paragraph 5 the increased annual cost is estimated at $4000
a year resulting in an increase of $40,000 a year by the
year 1936 and $100,000 a year by the year 1965, if the
present normal increase in the amount payable for pensions is
taken into account. The difficulties which beset officers on
their retirement afford, in my opinion, full justification
for bringing this matter forward in spite of the present
unfavourable financial position, a position which there is
every reason to hope is only temporary.
8.
The proposed amendments have received the
unanimous approval of the Executive Council and of the
Finance Committee of the Legislative Council and I should be
· glad to receive your authority to bring them into force.
I have the honour to be,
Sir,
Your most obedient humble servant,
ements
Governor, &c.